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Management hopes that the ability to raise capital will provide the company with leverage since it is currently in negotiations with groups looking for a joint venture partner. This affords Delta the opportunity to present itself as a viable option to those who have the land but not necessarily the means to explore it.
Delta acknowledges that progress has been very slow this year, but now has hope that developments will occur at a more rapid pace in large part because of this financing agreement. It is management's belief that in this difficult economic environment, a company that has financial backing may have an advantage and can look more appealing to potential partners and investors.
About Delta Mining and Exploration Corp., http://www.deltamine.com: Delta is a mineral exploration company with an extensive portfolio of diamond properties in central Montana, USA.
NOTE: Safe Harbor for Forward-Looking Statements.
This press release contains forward-looking statements within the meaning of the The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.
CONTACT: Delta Mining and Exploration Corp. 917-331-0076 Email Contact www.deltamine.com
SOURCE: Delta Mining and Exploration Corp.
http://www2.marketwire.com/mw/emailprcntct?id=E5B03F513D7768EE http://www.deltamine.com
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